Data Analytics Outsourcing Market Analysis, Key Players, Share Dynamic Demand and Consumption by 2023 to 2032

The global Data Analytics Outsourcing market was valued at USD 7.90 billion in 2022, and is projected to reach USD 65.34 billion by 2032 at a CAGR of 25.0% from 2022 to 2032.

The Data Analytics Outsourcing market refers to the outsourcing of data analysis services to third-party service providers. This market has been growing rapidly in recent years due to the increasing demand for data-driven insights in various industries, including healthcare, finance, retail, and technology.

The global data analytics outsourcing market size was valued at USD 2.54 billion in 2020 and is expected to reach USD 7.85 billion by 2028, growing at a CAGR of 15.1% from 2021 to 2028.

One of the main drivers of this market's growth is the need for companies to handle the large volumes of data generated by their operations. Outsourcing data analytics allows companies to access the necessary expertise and technologies without having to invest in their own infrastructure and personnel.

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Another factor driving this market's growth is the increasing use of artificial intelligence (AI) and machine learning (ML) technologies in data analytics. These technologies require specialized expertise and resources, which can be costly for companies to develop in-house. Outsourcing to third-party service providers allows companies to access these technologies and expertise without having to build their own teams.

Geographically, North America is the largest market for data analytics outsourcing, followed by Europe and Asia Pacific. The major players in this market include Capgemini, Fractal Analytics, Genpact, IBM, Infosys, Mu Sigma, Wipro, and TCS.

The adoption of data analytics outsourcing is also being driven by the increasing availability of cloud-based analytics tools and services, which allow companies to access data analytics capabilities without having to invest in expensive hardware or software. Additionally, the trend towards digital transformation in many industries is leading to a greater focus on data-driven decision making, which is further driving the adoption of data analytics outsourcing.
The increasing volume of data generated by businesses and the need for data-driven decision making are driving the growth of the data analytics outsourcing market.

The amount of data being generated by businesses is increasing at an unprecedented rate, thanks to the proliferation of digital technologies such as social media, mobile devices, and the Internet of Things (IoT). This data presents a vast opportunity for companies to gain insights into their operations and customers, identify patterns and trends, and make data-driven decisions to optimize their business processes. However, analyzing this data can be a daunting task for businesses, particularly those without in-house expertise or resources to devote to data analytics. This is where data analytics outsourcing comes in - by leveraging the expertise and resources of specialized service providers, businesses can gain access to the latest data analytics tools and techniques, without having to invest in building an in-house data analytics team.

Moreover, data analytics outsourcing offers the advantage of cost savings, as businesses can avoid the costs associated with hiring and training a full-time data analytics team. Instead, they can access the services of specialized providers on an as-needed basis, scaling their data analytics capabilities up or down as required. The need for data-driven decision making is another key driver of the data analytics outsourcing market. In today's fast-paced business environment, companies need to be able to make decisions quickly and with confidence. By outsourcing their data analytics needs, companies can gain insights into their operations and customers, identify areas for improvement, and make data-driven decisions to optimize their business processes.

Segmentation:
By Type
• Descriptive
• Predictive
• Prescriptive

By Industry Vertical
• BFSI
• Telecom
• Retail
• Healthcare
• Media & Entertainment
• Others

Geography:
The data analytics outsourcing market is a global market, with service providers operating in various regions around the world. However, North America is currently the largest market for data analytics outsourcing, due to the high adoption rate of advanced technologies and the presence of a large number of established service providers in the region. Europe is also a significant market, with countries such as the UK, Germany, and France driving growth in the region. The Asia-Pacific region is expected to see significant growth in the coming years, due to the increasing adoption of digital technologies and the growing need for data analytics services in emerging markets such as India and China.

Company Profiles:
• IBM Corporation
• Cognizant Technology Solutions Corporation
• Capgemini SE
• Wipro Limited
• Infosys Limited
• Tata Consultancy Services Limited
• HCL Technologies Limited
• Genpact Limited
• DXC Technology Company
• Fractal Analytics Inc.
• Mu Sigma Inc.
• EXL Service Holdings, Inc.
• NTT Data Corporation
• ZS Associates, Inc.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Data Analytics Outsourcing Market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Distributed Order Management System would help in identifying future applications in this market.

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Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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